Terns Pharmaceuticals (NASDAQ:TERN) Cut to “Hold” at William Blair

William Blair lowered shares of Terns Pharmaceuticals (NASDAQ:TERN) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Other research analysts have also issued reports about the company. BMO Capital Markets lowered Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 26th. Weiss Ratings restated a “sell (e+)” rating on shares of Terns Pharmaceuticals in a research report on Friday, March 27th. Wall Street Zen lowered Terns Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Truist Financial lowered Terns Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $56.00 to $53.00 in a research report on Tuesday, March 31st. Finally, Leerink Partners cut Terns Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $56.30.

Terns Pharmaceuticals Stock Performance

Shares of Terns Pharmaceuticals stock opened at $52.56 on Tuesday. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of -51.03 and a beta of -0.37. Terns Pharmaceuticals has a fifty-two week low of $2.04 and a fifty-two week high of $53.19. The stock has a 50 day moving average of $44.41 and a 200 day moving average of $31.89.

Terns Pharmaceuticals (NASDAQ:TERN) last issued its quarterly earnings data on Thursday, April 2nd. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.06. Analysts forecast that Terns Pharmaceuticals will post -1.19 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Amy L. Burroughs sold 14,583 shares of Terns Pharmaceuticals stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $46.71, for a total transaction of $681,171.93. Following the sale, the chief executive officer owned 288,976 shares in the company, valued at approximately $13,498,068.96. The trade was a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Emil Kuriakose sold 942 shares of Terns Pharmaceuticals stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $52.75, for a total value of $49,690.50. Following the sale, the insider owned 105,673 shares in the company, valued at $5,574,250.75. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 98,857 shares of company stock worth $3,850,896. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Terns Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Terns Pharmaceuticals during the fourth quarter worth about $1,772,000. Dynamic Technology Lab Private Ltd grew its holdings in shares of Terns Pharmaceuticals by 237.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 66,576 shares of the company’s stock worth $500,000 after buying an additional 46,831 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Terns Pharmaceuticals by 9,088,200.0% during the third quarter. AlphaQuest LLC now owns 90,883 shares of the company’s stock worth $683,000 after buying an additional 90,882 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Terns Pharmaceuticals by 90.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 682,708 shares of the company’s stock valued at $5,127,000 after purchasing an additional 324,502 shares in the last quarter. Finally, Capricorn Fund Managers Ltd purchased a new stake in Terns Pharmaceuticals in the 4th quarter valued at approximately $6,118,000. Hedge funds and other institutional investors own 98.26% of the company’s stock.

About Terns Pharmaceuticals

Terns Pharmaceuticals, Inc is a clinical‐stage biopharmaceutical company focused on developing oral small‐molecule therapies for the treatment of chronic liver diseases and other serious conditions. The company’s research and development efforts center on novel mechanisms of action designed to address the underlying causes of progressive liver disorders, including inflammation, fibrosis and metabolic dysregulation. By advancing targeted compounds that can be administered orally, Terns aims to offer patients more convenient and effective treatment options compared to injectable or biologic therapies.

The company’s pipeline features several candidates in various stages of preclinical and clinical evaluation.